DOW 30
DOW 30 has been in habit of
following our mentioned and analysed levels and it moved in our previously
mentioned range on expected terms. DOW 30 opened on a weaker note and cracked
as it opened at 17938 and from there made low of 17812 before finally closing a
weak session at 17865 and therefore shredded 119 points or a decrease of 0.67%
to the index. DOW 30 was weak on account of heavy profit booking or correction
as investors were hesitant to carry their position over the weekend among such uncertain
markets.
DOW 30 has Resistance building
around 17920--17925.If this level is positively breached and sustained then one
see DOW 30 resistance building around 17980--18020.
DOW 30 has Support building
around 17850--17830.If this level is breached negatively and not sustained then
one see next support building around 17780--17750.
RSI of 53 indicate that short
term trend is weak and correction may the theme for DOW 30 as investors are
booking profit among uncertain economical and global scenario.
MACD of positive 63 also indicate that short term trend is may be
towards consolidation or profit booking.
More will Update Soon!!
